Vancouver, British Columbia--(Newsfile Corp. - January 10, 2020) - FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9), a specialty, biotech pharmaceutical R&D company, has started trading on the Nasdaq Capital Market under the symbol "HUGE". FSD Pharma is focused on developing, over time, a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.
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Dr. Raza Bokhari, Executive Co-Chairman and CEO, stated: "The listing of our shares on the Nasdaq Capital Market is a momentous moment and represents a paradigm shift in the outlook of FSD Pharma. Doing so offers us an opportunity to expand awareness of the company's specialty pharmaceutical lead asset, a micronized formulation of palmitolylethonalamide (micro-PEA), which by targeting the CB2 receptor of the endocannabinoid system of the human body, may help address the opioid crisis by developing opioid-sparing, FDA-approved prescription drugs. A NASDAQ listing also elevates our corporate profile to institutional investors."
Dr. Bokhari will present at the Biotech Showcase 2020 in San Francisco on Monday, January 13, 2020 at 3:30 pm where he will provide an overview of the company, as well as recent strides made to transform FSD Pharma into a specialty pharmaceutical R&D company. Dr. Bokhari and members of the FSD Pharma leadership team will also meet with members of the global investment community while in San Francisco from January 13 to 15, 2020 on the sidelines of the JPMorgan 38th Annual Healthcare Conference.
In July 2019, the company acquired Arizona-based Prismic Pharmaceuticals for $17.5 million as a platform company and installed a world class expert in the field, Dr. Ed Brennan, as the President of the Division. Through Prismic Pharmaceuticals, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide or "PEA". The company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during the 1st quarter of 2020.
FSD's wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada's Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.
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